Vista Outdoor (NYSE:VSTO) and Czechoslovak Group on Tuesday announced that the Committee on Foreign Investment in the United States (CFIUS) has cleared CSG’s planned acquisition of The Kinetic Group business.
Vista Outdoor and CSG received written notice from CFIUS that it has concluded its review and investigation of the transaction and has determined that there are no unresolved national security concerns, the companies said.
CFIUS clearance was the final regulatory approval required under the merger agreement with CSG for the closing of the transaction, Vista and CSG added.
“We believe the end result supports our view that CSG—which has deep expertise in supply chain excellence and ammunition manufacturing and strong support for NATO and allied nations—will be an excellent owner of The Kinetic Group,” said Michael Callahan, Chairman of the Board of Directors.
Vista Outdoor, in June, confirmed that it has amended its agreement with Czechoslovak Group to sell Kinetic Group for a revised offer of $2B, a $40M increase from the previous offer.
Vista shares were up nearly 4% in extended trading on Tuesday.
Earlier in the day, the stock ticked down amid a report that the Dept. of Justice is looking at the sale of its ammo business to Czechoslovak Group over potential antitrust issues.
